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Are investors buying Nvidia’s latest A.I. Nvidia’s stock has soared more than fivefold since ChatGPT debuted in November 2022, a rally that has vaulted the chipmaker into the trillion-dollar market cap club on the back of investor fervor for artificial intelligence — and the high-end processors that power these models. But shares in Nvidia are down in premarket trading on Tuesday after investors gave the first day of the company’s annual developer conference (known as “A.I. Woodstock”) a tough grade. That’s even after the semiconductor company introduced its latest chip, which is capable of running increasingly complex computing models.

Persons: ChatGPT, A.I Organizations: Nvidia Locations: Woodstock

A different kind of battle for Third PointA small computer chip design company, R2 Semiconductor, has been notching wins in a potentially big patent fight against Intel over the past few months — a dispute that could force Intel to stop selling several chip lines in Europe. The context: R2 sued Intel, as well as two customers, Hewlett Packard Enterprise and Dell, in Germany, alleging that the chipmaker had infringed on a patent dealing with voltage regulation in semiconductors. A regional court in February issued injunctions against the sale of at least some Intel chips. And on March 8, a higher court rejected Intel’s effort to halt the decision. Meanwhile, a trial in Britain over the patent is set to begin next month.

Persons: DealBook, Dan, haven’t Organizations: R2 Semiconductor, Intel, Amazon Web Services, Fujitsu, Hewlett Packard Enterprise, Dell Locations: Europe, Germany, Britain

☆ Devastation in Gaza as Israel wages war on Hamas
▼ + stars: | 2024-03-16 | by ( Brad Lendon | Andrew Raine | ) edition.cnn.com time to read: +1 min

A ship belonging to the Open Arms aid group approaches the shores of Gaza towing a barge with 200 tons of humanitarian aid on Friday, March 15. Mohammed Hajjar/APIsrael will review the latest response from Hamas in the talks for a ceasefire and hostage release, Israel's Prime Minister's Office said Friday, and a delegation is likely to travel to Qatar early next week for further talks. A diplomat familiar with the discussions told CNN it's "not going to be easy to convince Israelis" to agree to Hamas' terms in the latest proposal, while another diplomatic source said mediation efforts are moving in a positive direction "but are not there yet." Relatives of hostages gathered in protest outside the Israeli military headquarters on Friday, calling on the government and Prime Minister Benjamin Netanyahu to "make a decision that will save our beloved ones." Here's what else you need to know:

Persons: Mohammed Hajjar, CNN it's, Benjamin Netanyahu Organizations: Arms, AP Israel, Minister's, CNN Locations: Gaza, Qatar

☆ First Came Family. Then Came Marriage (to a Grandmother’s Relief).
▼ + stars: | 2024-03-15 | by ( Andrew Zucker | ) www.nytimes.com time to read: 1 min

Mary Morton, a 99-year-old retired assistant principal in the Bronx, N.Y., wanted to live long enough to watch Melanie Renee White, her granddaughter, walk down the aisle with her then longtime boyfriend, Andrew R. Trotter. “I hope my eyes are still open by the time y’all get married,” she told Ms. White while the couple was dating. On Feb. 22, Ms. Morton’s eyes were fixed on her granddaughter, 37, and Mr. Trotter, 38, as she led their ceremonial celebration at Secret Gardens Miami, an event space in Homestead, Fla.“She just wanted to see it happen so bad,” said Ms. White, who had legally married Mr. Trotter on Jan. 18 at Philadelphia City Hall. “It was just an honor to have her do it.”

Persons: Mary Morton, Melanie Renee White, Andrew R, Trotter, “, ”, White, Jan Organizations: Secret Gardens, Philadelphia City Hall Locations: Bronx, N.Y, Secret Gardens Miami, Homestead, Fla

What’s next for ByteDance’s U.S. investors? DealBook has spoken with people in the know about what these investors, including financial giants like the Susquehanna International Group, can do, with billions of dollars on the line. Mnuchin, a former Treasury secretary, told Andrew on CNBC on Thursday that he was in talks with a “combination of U.S. investors” about a TikTok deal. He added that he had spoken with some of the investors in ByteDance, TikTok’s Chinese parent, about possibly rolling over their stake. of the video game giant Activision Blizzard, also reportedly has been looking for potential partners for a bid.

Persons: What’s, ”, DealBook, Steven Mnuchin, Andrew, Bill Ford, Bobby Kotick Organizations: ByteDance’s U.S, U.S, Susquehanna International Group, CNBC, Activision Locations: Beijing, China, ByteDance

☆ Steve Mnuchin breaks out the checkbook
▼ + stars: | 2024-03-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Mnuchin rebornNine months after President Joe Biden was inaugurated and Mnuchin left the Treasury Building, Mnuchin formed a new private equity group, Liberty Strategic Capital. Steven Mnuchin's private equity firm made a $450 million investment in New York Community Bank last week. When Mnuchin left CIT less than two years later, he received a $10.9 million severance package. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told visibly stunned anchors on CNBC Thursday morning. Mnuchin may be the founder and managing partner of Liberty Strategic Capital, but Saudi Arabia is reportedly covering a big chunk of his firm’s tab.

Persons: Donald Trump’s, Steven Mnuchin, Mnuchin, Joe Biden, Jackie ”, Trump, Goldman Sachs, ”, Liberty, Steven Mnuchin's, Spencer Platt, “ It’s, ” Mnuchin, “ You’re, ” Andrew Ross Sorkin, ” interjected, TikTok, “, he’s, Will Lanzoni, Crown Prince Mohammed bin Salman Organizations: New, New York CNN, Treasury, Liberty Strategic Capital, Lionsgate, New York Community Bank, Getty, Federal Deposit Insurance Corporation, CIT Group, CIT, CNBC, CNN, Senate, Liberty Strategic, Crown, New York Times, Saudi Public Investment Fund, Meta, ByteDance . Liberty Strategic Locations: New York, cybersecurity, New, California, China, Montana, Saudi Arabia, Saudi, ByteDance

Though its fate in the Senate is unclear, anti-China sentiment and pressure on lawmakers from the White House could force the issue. That belies the technical and legal hurdles in selling TikTok, as well as divisions within the U.S. tech community over the proposed legislation. The heads of the chamber’s Intelligence Committee — Mark Warner, Democrat of Virginia, and Marco Rubio, Republican of Florida — support the bill. So do the sometimes progressive John Fetterman, Democrat of Pennsylvania, and the hawkish Ted Cruz, Republican of Texas. It’s long overdue to push back and this bill does exactly that,” Fetterman posted on social media.

Persons: Mark Warner, Marco Rubio, John Fetterman, Ted Cruz, ” Fetterman Organizations: TikTok, Senate, chamber’s Intelligence, Democrat, Republican Locations: Washington, China, Virginia, Florida, Pennsylvania, Texas

TikTok faces a crucial voteThe House is set to vote on Wednesday on a bill that would ostensibly present ByteDance, the Chinese owner of TikTok, with an ultimatum: sell TikTok’s U.S. operations, or have the app barred. But there’s a fight brewing over whether it’s actually possible for ByteDance to sell TikTok — or if the bill is effectively a ban disguised as a call for divestment. Does the bill allow for a sale? The proposal forbids any deal that allows TikTok’s U.S. and foreign operations to cooperate on a content recommendation algorithm or share data. While TikTok says it already walls off the data of U.S. users from its parent company, it’s not clear the company could operate without any foreign support.

Persons: it’s, ” TikTok, TikTok Organizations: TikTok’s U.S Locations: U.S, United States

Fintech giant Stripe revealed in its annual letter published on Wednesday that it surpassed $1 trillion in total payment volume in 2023, up 25% from 2022. By comparison, PayPal surpassed $1 trillion in total payment volume in 2021, 23 years after it was founded. Stripe is valued at $65 billion as of the company's latest tender offer completed last month. We wanted to ensure shareholders have access to liquidity that is why we did the tender offer last year, that's why we did the tender offer this year." "Things got a bit mad at the peak of 2021... startups are focusing on more profitable growth," Collison explained to Sorkin on "Squawk Box."

Persons: Patrick, John Collison, Andrew Ross Sorkin, Collison, Sorkin Organizations: PayPal, CNBC, YouTube

☆ CNBC invited Trump on its air. The network didn’t even try to stop his lies
▼ + stars: | 2024-03-12 | by ( Oliver Darcy | ) edition.cnn.com time to read: +7 min

“I believe on the ‘Squawk’ news line, we are joined by former President Donald J. Trump, DJT 45. It’s been a while, Mr. President,” Joe Kernen, co-host of “Squawk Box,” greeted Trump on the air. Almost immediately after commencing the interview, Trump launched into one of his trademark, fact-free rants. Instead, the outlet quickly spliced Trump’s comments into a handful of clips and posted them online, amplifying his comments further. “We appreciate all the time you’ve given us this morning, Mr. President,” Kernen said.

Persons: Donald Trump, “, Donald J, Trump, It’s, ” Joe Kernen, ”, Kernen, Joe Biden’s, Biden, ” Trump, Andrew Ross Sorkin, Sorkin, Brian Roberts, Rachel Maddow, “ Biden, Fani Willis, Jean Carroll, ominously, ” Kernen Organizations: New York CNN, CNBC, Monday, Republican, U.S . Energy Information Administration, Trump, NBCU News Group, Comcast, NBC, MSNBC Locations: New York, Joe Biden’s State, U.S, Trump, China, Fulton County

Trump’s TikTok U-turnTikTok users have continued to flood the social media platform — and lawmakers’ inboxes — with pleas to halt a bill that would force its Chinese owners to divest or face a ban in the U.S.That effort to keep TikTok online has now attracted some unlikely backers, including Donald Trump. A recap: Last week, a powerful House committee voted 50-0 to remove TikTok from U.S. app stores by Sept. 30 unless its Beijing-based parent company, ByteDance, sold its stake. President Biden said on Friday that he’d sign the bill if it reaches his desk — even as his campaign has embraced the platform. But Trump has potentially scrambled the political calculus in Washington. Starting last week, the former president has pushed back against a TikTok ban, arguing that such a move would strengthen Meta’s Facebook — the “true Enemy of the People!” (Remember that as president, Trump issued an executive order ordering ByteDance to divest its American assets.)

Persons: ’ inboxes, Donald Trump, Biden, Trump Organizations: Facebook Locations: U.S, Beijing, Washington

Biden goes on the offensivePresident Biden sought to reinvigorate his re-election campaign, delivering an animated and mostly gaffe-free State of the Union address that put the economy and business front and center. In the prime-time slot, he pitched Bidenomics as delivering for Americans, and outlined a policy wish list that may appeal to progressive voters and some in his party but which could also put him at loggerheads with big corporations. Heading into a November rematch with Donald Trump, Biden sought to frame the presidential race in stark terms for the democracy while holding business to account. Among the areas that could rankle business leaders: a call to raise the minimum tax on multinationals to 21 percent. He also singled out “Big Oil, private jets, and massive executive pay” in his speech as areas ripe for boosting tax revenue.

Persons: Biden, Donald Trump, ” Organizations: Oil

☆ A complete timeline of Ariana Grande and Ethan Slater's relationship
▼ + stars: | 2024-03-08 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +13 min

March 2023: Grande and Slater are photographed togetherMichelle Yeoh posted this photo on March 27, 2023. July 20, 2023: Grande and Slater's new relationship makes headlinesEthan Slater is best known for playing SpongeBob SquarePants on Broadway. July 27, 2023: Slater's estranged wife says Grande is 'not a girl's girl'Lily Jay Slater and Ethan Slater in 2017. AdvertisementNovember 16, 2023: Grande attends the opening night of 'Spamalot'Ariana Grande in New York City on November 16, 2023. AdvertisementDecember 22, 2023: Grande includes an apparent nod to Slater in her holiday decorAriana Grande shared these photos on December 22, 2023.

Persons: —, Ariana Grande, Ethan Slater, Grande, Cynthia Erivo, Glinda, Jon M, Chu, Slater, Tony, SpongeBob, Dalton Gomez, Gomez, Michelle Yeoh, Michelle Yeoh's Oscar, Yeoh, Erivo, costars Grande, costars, they'd, ”, Kevin Mazur, Jenny Anderson, TMZ, Lilly Jay, Jay, Slater's, Lily Jay Slater, Page Six's Francesca Bacardi, Bacardi, Dalton, she's, Ethan, Slater Ethan Slater, CJ Rivera, Prince Herbert, She's, who's, Liz Gillies, Gillies, Liz Gillies após, @accessarianabr, James Earl Jones, Josh Gad, Andrew Rannells, Michael Urie, Rannells, Ariana, Bauer, Griffin, James, Joan Grande, Hale Grande, Doug Middlebrook, Grande's, Ed Butera, Butera, We're Organizations: Service, Broadway, Business, Variety, TMZ, Wimbledon, Getty, Nickelodeon, Disney, James Earl Jones Theater, DAMEBK, St, James Theatre, Theater District Locations: New York City, Grande, England, London, Oz, New York, Grande ., @spamalotbway, New York City Grande, Manhattan

☆ Mark Cuban says he's not voting for Donald Trump because he doesn't want 'a snake oil salesperson as President'
▼ + stars: | 2024-03-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

The billionaire said Trump "will tell you his snake oil will cure everything that ails you." I'm voting for Biden/Harris over Trump all day every day," Cuban told Axios on Tuesday. Cuban told Axios that when it came to Trump and Biden, it was a match-up between "the snake oil salesperson vs the incumbent, traditional politician." Musk mocked Cuban on Monday and said Cuban would vote for Biden even if the president "were a flesh-eating zombie." He can do what he wants," Cuban said when asked about the reported meeting between Musk and Trump.

Persons: Mark Cuban, Joe Biden, Donald Trump, Trump, Biden, Cuban, —, Harris, Axios, Joe Biden's, he'd, Cuban's Biden, Elon, Musk, didn't, Biden's, Tesla, I'm, Andrew Ross Sorkin Organizations: Service, Biden, Trump, Cuban, Bloomberg, Elon Musk, The New York Times DealBook Summit, The Times, Musk, GOP, Republicans Locations: Florida

☆ Elon Musk makes it clear: He's not going to donate to Trump's campaign
▼ + stars: | 2024-03-06 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

Elon Musk says he's not going to donate to either Donald Trump or Joe Biden. The New York Times reported that Trump met with Musk while looking for cash for his campaign. AdvertisementThe billionaire Elon Musk wrote on Wednesday morning that he wouldn't be donating "to either candidate" for president, a declaration that came after The New York Times reported that Musk huddled with Donald Trump in Florida. "Just to be super clear, I am not donating money to either candidate for US President," Musk wrote on X.Musk's refusal isn't all that surprising. "I would not vote for Biden," Musk told the journalist Andrew Ross Sorkin at a New York Times event.

Persons: Elon Musk, he's, Donald Trump, Joe Biden, Trump, Musk, —, Trump's, Joe Biden's, hasn't, Biden, Andrew Ross Sorkin, I'm, Nikki Haley's, Robert F, Kennedy Jr, Kennedy, Nikki Haley Organizations: The New York Times, Service, US, New York Times, Trump, Twitter, Democratic Locations: Florida

Inflationary pressure and presidential politicsPresident Biden and Donald Trump dominated Super Tuesday, setting the stage for a rematch of the 2020 election. One topic that’s high on the agenda for voters: Inflation. Inflation is kryptonite for any politician, and especially for Biden. Trump again pounded the president on high prices, an issue that’s lifting the Republican in polls even as a range of indicators show that the economy is performing strongly. (The White House is putting the blame on corporations that “try to rip off Americans.” Watch for that theme at Thursday’s State of the Union address.)

Persons: Biden, Donald Trump, Jay Powell, Trump Organizations: Super, Biden, ” Locations: Thursday’s State

Two names are likely to draw attention: LeBron James, the superstar basketball player, and Drake, the rapper. James and Drake are committing additional capital as “strategic investors,” and are expected to use their marketing power to help the tour broaden its audience. James and the PGA Tour commissioner, Jay Monahan, were at the home of Tom Werner, F.S.G.’s chairman, recently discussing just that, DealBook hears. Fans may see the stars around the greens, perhaps in the same way Drake is a frequent courtside presence at Toronto Raptors games. I remember some of my best childhood memories was being on the golf course with my uncle,” Drake said in a statement to DealBook.

Persons: LIV Golf, wasn’t, LeBron James, Drake, Steve Cohen, Arthur Blank, Marc Lasry, James, Jay Monahan, Tom Werner, F.S.G, ’, DealBook, ” Drake, “, ” Organizations: Fenway Sports Group, PGA, PGA Tour, Toronto Raptors Locations: Saudi

☆ Britain's royal family is a mess, and things are about to get worse
▼ + stars: | 2024-03-01 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +10 min

But for Britain's royal family, that may be the least of its problems. Meanwhile, Prince Andrew is back in the limelight and Prince Harry's relationship with his brother remains uncertain. AdvertisementAnd things are likely to get worse unless a drastic change is made, according to Royston and Kristen Meinzer, a royal expert and podcast host. Gabriella — second cousin to King Charles — and Kingston tied the knot at St. George's Chapel in Windsor. Prince Andrew and Sarah Ferguson are photographed with members of the royal family before the Thanksgiving Service for King Constantine.

Persons: —, Kate Middleton, Princess of Wales, Prince Andrew, Prince Harry's, Jack Royston, Kristen Meinzer, Charles, Kate, Greece's King Constantine, Sarah Ferguson, Duchess, York, King Charles, weren't, Queen Camilla, Max Mumby, Rishi Sunak, Sunak, Charles III, Jonathan Brady, Harry, Meghan, Royston, Gabriella's, Thomas Kingston, Gabriella —, King Charles —, George's, Karwai Tang, Middleton, hasn't, Meinzer, hyperemesis, Prince William, Prince Louis, Chris Jackson, Kate's, haven't, William —, Andrew, King Constantine of Greece, King Constantine, Andrew Matthews, William, Ferguson, Victoria, Prince, Prince William's, Camilla, Buckingham Organizations: Service, Business, British, BBC, GMA, Kingston, Kensington Palace, Telegraph, Royal, Daily Mail, Netflix Locations: Royston, Buckingham, St, Windsor ., Kensington, Lindo

Musk takes aim at OpenAIThe gloves have really come off in one of the most personal fights in the tech world: Elon Musk has sued OpenAI and its C.E.O., Sam Altman, accusing them of reneging on the start-up’s original purpose of being a nonprofit laboratory for the technology. Yes, Musk has disagreed with Altman for years about the purpose of the organization they co-founded and he is creating a rival artificial intelligence company. But the lawsuit also appears rooted in philosophical differences that go to the heart of who controls a hugely transformative technology — and is backed by one of the wealthiest men on the planet. The backstory: Musk, Altman and others agreed to create OpenAI in 2015 to provide an open-sourced alternative to the likes of Google, which had bought the leading A.I. start-up DeepMind the year before.

Persons: Elon Musk, OpenAI, Sam Altman, Musk, Altman, Ilya Sutskever Organizations: Google

More questions for OpenAISam Altman has been back as OpenAI’s C.E.O. for three months, running one of the world’s most important tech companies at the forefront of the artificial intelligence boom. But a report by The Wall Street Journal that the S.E.C. is investigating whether Altman misled investors is a reminder that OpenAI and its hyper-ambitious chief face a level of scrutiny that could dent their global plans. isn’t the only regulator looking at the Altman drama: Federal prosecutors in Manhattan have also been asking questions, according to The Journal.

Persons: OpenAI Sam Altman, Altman, Altman’s Organizations: Wall Street Journal Locations: Manhattan

Innovation on wheelsHas Apple really crashed the car? The tech giant has killed its electric vehicle project as it pivots to artificial intelligence, prompting many observers to declare the venture a major failure for the company. Here’s a contrarian thought: That critique misses a wider point about how Apple innovates, because the company has used the project to power a whole ecosystem of products and services that have been unmitigated successes. Reports emerged about the secret effort, code-named Project Titan, in 2014, and the company has never publicly acknowledged its existence. There had been an wider internal debate about getting into the car business.

Organizations: Apple

So the White House probably cheered a move by the F.T.C. and several states on Monday to block Kroger’s $25 billion bid to buy Albertsons, arguing that the biggest supermarket merger in U.S. history would raise prices and hit union workers’ bargaining power. The Biden administration has little influence over inflation, but it’s still getting heat. Consumers are spending the highest proportion of their income on food in 30 years, and an internal White House analysis found that grocery prices had the biggest impact on consumer sentiment. The Fed has jacked up interest rates to a 20-year-high in an effort to cool inflation, but progress on that has slowed in recent months.

Persons: Biden’s, Biden, it’s Organizations: Kroger, Albertsons Locations: U.S

☆ George Michael commemorated with coins from UK’s Royal Mint
▼ + stars: | 2024-02-26 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +2 min

London CNN —Slicked-back hair, a leather jacket, a cross dangling from his ear and his trademark aviator sunglasses. This is how many of George Michael’s fans remember the late, great singer—and his image has now been immortalized just so on a new collectible coin issued by Britain’s Royal Mint. The design of the coin pays tribute to the late singer’s second solo hit single, “Faith,” according to the Royal Mint. In a statement published online, the mint, which is the official producer of Britain’s coins, said the George Michael coin is the latest addition to its Music Legends series. Welcoming the coins’ creation, a statement from George Michael Entertainment included in the media release said: “On behalf of George Michael, we are deeply honored that the Royal Mint is paying tribute to him by creating a series of beautifully crafted coins.

Persons: London CNN —, George Michael’s, —, George Michael, David Bowie, Elton John, Queen, Sandra Deiana, ”, Deiana, “, Michael, Jesus, Andrew Ridgley, Michael’s, Aretha Franklin, — “, Wham’s Organizations: London CNN, Britain’s Royal Mint, Royal Mint Visitors, Royal Mint, George Michael Entertainment Locations: British, Italian

Toeing the line in Miami BeachAmerica’s corporate elite were everywhere in Miami at the Future Investment Initiative conference, Saudi Arabia’s latest bid to showcase its extensive wealth and deepen ties with Western business. DealBook’s Lauren Hirsch was on hand to report on the financiers and Hollywood A-listers who made the trip. The Saudis are using their vast oil wealth to become one the world’s biggest investors and forge closer relationships with Wall Street, Silicon Valley and more. (So too did former Trump officials including Steven Mnuchin, the former Treasury secretary; Mike Pompeo, a previous secretary of state; and Jared Kushner, Trump’s son-in-law.) Attendees mingled over wine, which is banned in Saudi Arabia, and Carbone’s spicy rigatoni.

Persons: Jamal Khashoggi —, Prince Mohammed bin Salman, DealBook’s Lauren Hirsch, Steve Schwarzman, Blackstone, Barry Sternlicht, Alex Karp, Brian Grazer, Gwyneth Paltrow, Steven Mnuchin, Mike Pompeo, Jared Kushner, Trump’s Organizations: Future Investment Initiative, Saudi, Hollywood, Starwood, Palantir, Trump, Treasury Locations: Miami Beach, Miami, Silicon Valley, Saudi Arabia

☆ Live updates: Russia-Ukraine war rages on second anniversary of invasion
▼ + stars: | 2024-02-24 | by ( Chris Lau | Andrew Raine | ) edition.cnn.com time to read: +2 min

Bernd von Jutrczenka/picture alliance/Getty ImagesAs Russia's war in Ukraine nears its second anniversary, world leaders continue to urge for support and aid in Ukraine. “We have learned, unfortunately, over the two years, this is not only a war against Ukraine, it's a war against the European peace order. United Kingdom Prime Minister Rishi Sunak said the free world must renew its determination to stand behind Ukraine. “When Putin launched his illegal invasion two years ago, the free world was united in its response. And on this grim anniversary, we must renew our determination," Sunak said, according to a statement released late Friday.

Persons: Annalena Baerbock, Bernd von Jutrczenka, Vladimir, Putin, ” Baerbock, Baerbock, Rishi Sunak, “, Sunak, Laurent Bili, ”, Justin Trudeau, Canada’s Organizations: United Nations Security, Ukraine, United Nations, United, Prime, European Union, NATO, Canadian Locations: Ukraine, New York, Here's, Europe, United States, it's, Kyiv, Trudeau, Canada, Russia

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